US, Russian, Belarusian astronauts return to earth after 14 days in space
Moscow, Russia - A NASA astronaut, a Russian cosmonaut and Belarus's first ever space traveler on Saturday returned to Earth safely after a fortnight aboard the International Space Station, Russia's Roscosmos agency reported."Today, at 10:17am Moscow time (0717 GMT), the descent vehicle of Sozuz MS-24 manned spacecraft landed near the Kazakh...
Islamic Development Bank approves $10.54bn food security package
The Islamic Development Bank (IsDB) Group has agreed on a $10.54 billion package for the Comprehensive Food Security Response Program (FSRP) that will support member countries in addressing the ongoing food crisis and increase the group's ongoing efforts to contribute to strengthening its members' resilience to future food security problems....
UAE lauds Turkiye’s role in Russia-Ukraine grain exports pact
The UAE foreign minister Sheikh Abdullah bin Zayed Al Nahyan in a phone call to his Turkish counterpart Mevlüt Çavuşoğlu described the agreement as a ''key step.''
High energy prices help Russia weather damaging sanctions: IMF
Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia's economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday. The sanctions were meant to sever Russia from the global financial system and...
Natural gas a weapon of war between Russia and Europe
Natural gas has emerged as a weapon of war between Russia and Europe since Moscow's February 24 invasion of Ukraine. Here is how the standoff developed: Nord Stream 2 halted On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia...
Russia assures Egypt of providing grains as per order
Russia's top diplomat reassured Egyptian leaders Sunday that their orders for Russian grain would be met as he began a tour of African countries dependent on imports for their food supply. Between 20 million and 25 million tonnes of grain has been blocked in Ukrainian ports since Russia and Ukraine...
UAE applauds grain export deal between Russia and Ukraine
The UAE has welcomed the agreement reached between Russia and Ukraine on the export of grain, and has applauded the role of Turkey and the United Nations in helping the two countries to sign the Black Sea Grain Export deal.African Union lauds Russia for allowing Kyiv to resume grain export
Ukraine and Russia and two of the world's largest grain producers.Wheat prices fall as Russia-Ukraine export agreement takes off
Wheat prices tumbled Friday, retreating to levels last seen prior to the Russian invasion of Ukraine following a landmark agreement to unblock Ukraine's Black Sea grain exports. Wheat and other grain have been blocked in Ukrainian ports by Russian warships and landmines Kyiv has laid to avert a feared amphibious...Ukraine says trusts UN, not Russia, in grain deal
Ukraine and Russia signed a deal on Friday to unblock grain exports and relieve a global food crisis, as a critical Russian gas pipeline to Europe reopened. However, there was no respite in the conflict on the ground, with Russian artillery on Thursday pounding Ukraine's second largest city Kharkiv, already...Russia’s Foreign Minister to address Arab League at its headquarters
The war in Ukraine has caused food insecurity in Arab nations, many of which are heavily dependent on wheat imports from the former Soviet state. His address comes days after Russia took part in a summit hosted by Iran and attended by Turkey.
Russia resumes critical gas supplies to Europe via Nord Stream
Russia on Thursday resumed critical gas supplies to Europe through Germany, reopening the Nord Stream gas pipeline after 10 days, but uncertainty lingered whether the continent could avert an energy crisis this winter. "It's working," a Nord Stream spokesman said, without specifying the amount of gas being delivered.Syria cuts off ties with Ukraine, clings to its ally Russia
Syria announced Wednesday that it was severing ties with Ukraine in support of its close ally Russia, saying the move was a response to a similar move by Kyiv.
Biden’s Arab trip lukewarm, at best
The US president could not dispel the view that the Washington is no longer a reliable ally and he also failed to connect at a personal level with the young GCC leaders, say experts.
European Union seeks to double gas import from Azerbaijan
Azerbaijani President Ilham Aliyev said last week that "an important document on energy security will be signed between the European Union and Azerbaijan".
Jordan tourism sector rides high on back of 1.9m visitors to kingdom
The tourism sector of the Jordanian economy has seen a huge growth, with more than 1.9 million visitors arriving in the kingdom during the first six months of the current year Tourism Minister Nayef Al-Fayez described the situation as reassuring. He said the return of expatriates was an important component...
Iran, Russia, Turkey presidents to talk Syria war in Tehran
With the war in Ukraine still raging, Russian President Vladimir Putin travels Tuesday to Tehran for talks with his Iranian and Turkish counterparts on the Syria conflict. Russia, Turkey and Iran have in recent years met to discuss Syria as part of the so-called "Astana peace process" to end more...
Euro faces many hurdles on way to recovery against dollar
The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of...Syria Kurds ask Russia, Iran to prevent Turkish offensive
The commander of US-backed Kurdish forces in Syria on Friday urged Russia and Iran to prevent Turkey from launching a new attack in the country's north, days before an expected Syria summit.
Equities climb up on back of high US consumer spending
Stocks soared Friday after retail sales data showed that US consumers continue to spend more in the latest signal of the economy's resilience despite high inflation and rising interest rates. Wall Street pushed higher on a better-than-expected 1.0 percent rise in retail sales in June.
European Union cuts growth forecasts as war-stoked inflation surges
The EU executive, which tracks the economy of the 27 countries in the European Union, said GDP growth in the eurozone would reach 2.6 percent in 2022 and a sharply lowered 1.4 percent in 2023. Inflation would end the year at 7.6 percent, much higher than previously forecast, and 4.0...Russia and Ukraine near grain deal in first talks since March
Russia and Ukraine on Wednesday made substantive progress in their first direct talks since March on a deal to relieve a global food crisis caused by blocked Black Sea grain exports. The high-stakes meeting involving UN and Turkish officials in Istanbul broke up after slightly more than three hours with...Euro slides to be at par with dollar as recession fears rise
The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone.
Russia and Ukraine seek to break grain impasse in Turkey
The four-way meeting in Istanbul comes with Russia's invasion of Ukraine showing no sign of abating.
GCC expects moderate impact of global recession
The region is better placed to deal with global slowdown as oil and gas prices will stay high due to supply restrictions, Jean Claus, CEO of Allianz Trade Middle East, tells TRENDS.UN extends cross-border Syria aid program by six months
The UN Security Council has agreed to extend a vital system for cross-border aid to war-ravaged Syria by six months, the length of time wanted by Russia, diplomats told AFP Monday.
Biden seeks to persuade Saudi Arabia to pump more oil as prices soar
Saudi Arabia's oil-driven economy expanded by 9.6 percent in the first quarter, its strongest growth rate in a decade.Iran to supply Russians with UAVs for Ukraine: White House
Iran is planning to supply hundreds of drones with combat weapon capabilities to Russia for use in Ukraine, a top US official said Monday. Jake Sullivan, the White House national security advisor, said the information received by the United States supported views that the Russian military is facing challenges sustaining...Russia vetoes UN push to renew cross-border aid to Syria
Russia on Friday vetoed a UN Security Council resolution that would have extended cross-border aid to Syria by one year without Damascus's backing. Western powers then voted down a competing resolution put forward by Moscow that proposed extending approval by just six months.World food prices fell in June but remain very high: FAO
World food prices, including for wheat, fell in June for a third month running despite remaining near an all-time high, the UN Food and Agriculture Organization (FAO) said on Friday. Export flow disruptions resulting from Russia's invasion of Ukraine on February 24 and international sanctions on Moscow have sparked fears...
Iran, Russia, Turkey considering joint car design and production
Iran and Turkey share a land border, while Russia shares a maritime border with Iran and Turkey across the Black Sea and Caspian Sea respectively.Oil prices may hit $380 a barrel if Russia lowers crude output
Global oil prices may hit $380 a barrel if Russia were to announce crude oil cuts in response to the US and European curbs.In the ‘borshch war’, Kyiv defeats Moscow
UNESCO inscribes the culture of cooking borshch soup in Ukraine on its list of endangered cultural heritage amid Moscow's opposition.
China, Russia far from ousting US power in GCC: Vision 3 Chairman Khaled Janahi
Are China and Russia taking over the US power in the Gulf Cooperation Council region? Khaled Janahi, chairman of Vision 3, tends to disagree. “I would question the question because there are a lot of people thinking that already China and Russia are taking over. There is difference between relationship...
Expanding NATO squares up to Russia as Putin slams ‘imperial’ alliance
The United States vowed to reinforce Europe's defences in the wake of Russia's invasion of Ukraine, as NATO declared Moscow the West's greatest threat -- prompting Vladimir Putin to lash out at the alliance's "imperial ambitions". Meeting in Madrid Wednesday, NATO leaders said Russia "is the most significant and direct...
OPEC meeting expected to stick to oil output boost
Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at their meeting on Thursday, despite pressure to further increase production. Russia's invasion of Ukraine has exacerbated concerns about oil supplies, sending prices to record highs this year.Egypt to receive $500 mn from World Bank to boost food security
Egypt's food security has been under mounting pressure since Russia invaded Ukraine in late February causing massive disruption to exports from Black Sea ports. Before the invasion, the two countries accounted for 85 percent of Egypt's wheat imports.
Gulf boosts oil production amid global fuel crisis
Saudi oil giant Aramco has built new refineries in Jazan to boost its production capacity to 400,000 barrels a day to compensate for the fuel shortage triggered by curbs against Russia.US sanctions Russia’s defence sector, bans its gold import
United States is seeking to crack down on Russians seeking to skirt existing sanctions by "covertly" acquiring US, Japanese and European defence components.
G7 meet: World powers ban gold exports from Russia
US President Joe Biden and his counterparts from the world's most industrialized nations are gathering at Elmau Castle in the Bavarian Alps before they continue on to Madrid for talks with NATO partners.US President seeks support for Ukraine from G7 leaders
G7 leaders including US President Joe Biden gather on Sunday in southern Germany, seeking emphatic backing for Ukraine against Russia's invasion while grappling with the intensifying global fallout of the war. Ahead of the talks, British Prime Minister Boris Johnson urged allies not to waver in their support.
Global personal luxury goods market hits US$300bn
The market benefited from an exuberant 2021 holiday shopping season across the regions, with a seven percent increase over the same period in 2019.Oil uncertainty may stay for next five years: ExxonMobil CEO
ExxonMobil has taken a 6.25 percent stake in the expansion of Qatar's North Field, which contains the world's biggest natural gas reserves.ConocoPhillips third to join Qatar’s mega gas expansion
ConocoPhillips' chunk of the North Field East project is half the size of France's TotalEnergies, which has a 6.25 percent share, but the same as Italy's ENI, announced on Sunday, said Energy Minister Saad Sherida al-Kaabi.Inflation, subsidy reform hit stomachs in isolated Iran
Inflation is making an unwelcome comeback globally -- stoked by high energy and food prices, driven largely by Russia's invasion of Ukraine, a major wheat producer, and by related sanctions on Moscow. But Iran has been wrestling with rampant price growth for years, exceeding 30 percent annually every year since...UAE to attract super rich, say investment trends
One big factor for more HNWIs making their way to the UAE is the ongoing war in Ukraine which has triggered the biggest emigration of millionaires from Russia over the last six months, with forecast net outflows of 15,000 by the end of 2022 -- a massive 15% of its...Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during Saint Petersburg International Economic Forum 2022.
Germany declares emergency steps to meet energy demand
Berlin has managed to reduce the share of its natural gas supplied by Russia from 55 percent before the invasion to 35 percent -- thanks to increased deliveries from countries like Norway and the Netherlands.
Italy’s Eni joins giant Qatar gas project after Russian cuts
Eni will own a stake of just over three percent in the $28 billion North Field East project, the world's biggest natural gas field, said Qatar's Energy Minister Saad Sherida al-Kaabi, who is also president and CEO of state-owned Qatar Energy. France's TotalEnergies was its first, and largest, foreign partner...
Fuel prices hit record highs in Morocco
Petrol prices rose to record highs in Morocco on Thursday, fuelling anger among unions who demanded the government of energy tycoon Aziz Akhannouch act to protect consumers. Drivers in Morocco, which relies heavily on imported oil products whose prices have soared since Russia's invasion of Ukraine, must now pay 18...Hunger crisis could swell already record global displacement: UN
Russia's war in Ukraine has pushed global displacement numbers above 100 million for the first time, and the UN warns the resulting hunger crisis could force many more to flee their homes.
